Michael Saylor Blames Short-Term Sellers for Delaying Bitcoin's Ascent

MicroStrategy founder Michael Saylor says that Bitcoin’s price would likely be much higher—potentially over $150,000—if it weren’t for a wave of short-term sellers recently exiting the market.

In a recent appearance on the Coin Stories podcast, Saylor described a transition taking place as early holders with little long-term conviction cash out, paving the way for more institutional capital.

Saylor observed that a substantial portion of Bitcoin historically belonged to non-economic actors, such as governments, legal administrators, and bankruptcy trustees. These entities, he noted, viewed their Bitcoin holdings as assets to be liquidated during market rallies, rather than engaging in long-term investment strategies.

However, Saylor believes that this phase of market rotation is nearing completion. He highlighted the emergence of a new class of buyers—including corporate treasuries, ETF participants, and long-term investors—who are beginning to build a more stable foundation for the crypto market.

Saylor also touched upon an unexpected development in U.S. policy regarding Bitcoin. He pointed out that recent administrative actions have exceeded his initial anticipations.

While the U.S. has yet to formally acquire Bitcoin as a strategic asset, Saylor noted that seized BTC is now being placed in federal custody to form the Strategic Bitcoin Reserve, which was created by executive order in March.

As transient holders step aside and capital from committed sources pours in, the true narrative of Bitcoin’s journey may just be unfolding.